Wholesaling Deal Closing

[Bryan L.]

Hello, 

I am planning to purchase a few houses in my area by wholesaling them myself, rehab (with contractors) and then renting them out (through a property management company).  The main reason I am looking at wholesaling is that the market in my area is really strong and this is the only way (other than a foreclosure auction) I can see getting properties at the price point I need to insure some cash flow. 

I am going to be starting a direct mailer campaign next month to try to purchase my first property.  I am planning to send out 300-500 mailers in the hopes of closing 1-2 deals next.

I have a good handle my list, what the mailer is going to say and how they are going to be sent. I have a basic purchase offer contract and am comfortable with estimating offer pricing on my own.  

Over the next month I am going to be trying to form a relationship with a good title company that is familiar with dealing with investors. 

Can I finalize a deal with myself and just a title company?  Do I also need to have a real estate attorney involved?  

I have a good inspector I am planning to use.  Is it standard practice to do an inspection on wholesale deals? 

The properties will be in the name of an LLC. I am going to use a Heloc to purchase and rehab the properties. I won't jump into any deals that aren't going to guarantee at least 20% equity after rehab. How much trouble do you think I am going to have trying to get a 30 year mortgage on a property after it is rehabbed and rented?

[Simon W.]

Are you wholesaling to investors or to yourself? I am confused with your statement.